Macro Economics Documents

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Chapter 11: Short- Run Macro Model
in the short run, spending depends on income, income depends on spending
circular connection between spending and income
short-run macro model
explains how changes in spending can affect real GDP in the short run
short-r

NEW YORK UNIVERSITY
DEPARTMENT OF ECONOMICS
Economic Principles I
Prof. Harry Kitsikopoulos
Office hours: I can see students right after class but instead of specifying the day I would like to keep it flexible to
accommodate those who may not be able to c

Chapter 17: Exchange Rates and Macroeconomic Policy
Foreign exchange market: a market in which one countrys currency is traded for that of
another
I. Foreign Exchange Money Markets and Exchange Rates
National currencies are exchanged for another in banks,

Per Capita GDP: US $50,000
US- top 3 countries in crime rate (affects GDP) [South Africa &Russia]
Happiest people- Denmark
Unemployment
1 of the 3 microeconomic variables
9% in the US (high)- tells us the state of the economy
Many reasons for unemployment

November 10
Equilibrium: supply= to the demand
1)
2) If we do have equilibrium of a national economy, is the national equilibrium
synonymous with perfection? If we do achieve this equilibrium, is this perfect?
3) If we do not have equilibrium, is this nec

Calculation of inflation for a certain year:
2 methods of how a price commodity is in economy over time
Index Number
Percentages to express this change in price level
Government came up with a list of 400 most important goods and services sold in the US
f

Chapter 6: Business Cycle
3 different Major topics
1st:
Examination of three major microeconomic variables that economists look at to
assess the states
GDP of the economy
Unemployment rate
Inflation rate
Look at these three variables, one can tell how the

Edouard Schaal
Spring 2016
Econ-UA 12: Intermediate Macroeconomics
Final Exam Practice Questions - Solutions
Exercise 1 - Playing with the IS-LM-FE model (again!)
This exercise is almost the same that you had in the practice questions for Midterm II excep